Company Name : iBus
Funding Amount : Rs 150 Million
Investor(s) Vallabh Bhanshali N Squared Management LLC. Jagdish & Sandeep Mehta.
Funding Round : Series A
iBus networks & infrastructure has raised Rs 150 Million in Series A from Vallabh Bhanshali of Enam, N Squared Management LLC, USA and family office of Jagdish & Sandeep Mehta.
iBus has also appointed Sanjay Kapoor, former Micromax chairman as the Non Executive Chairman of the company and Mohandas Pai will be an advisory board member.
The funding will be used to drive deployment of iBus solutions across the country and multiple segments to deliver connectivity inside buildings.
Ram Sellaratnam, CEO of iBus, said, “Today connectivity is basic utility. When people look at premises, they check water, electricity and connectivity. If connectivity is poor, the location will suffer. Inside buildings connectivity is a multi-dimensional problem. Our patent pending technology platform comprehensively solves voice, data, proximity marketing and machine to machine connectivity problems. That makes us a unique and innovative solution provider.’’